Hastings Technology Metals Doubles Stock with Significant Magnetic Materials Project
October 21, 2015 — Malcolm Mason, Non-Executive Director of Hastings Technology Metals Limited (ASX: HAS) in an interview with Tracy Weslosky, Publisher for InvestorIntel discuss how Hastings has eluded the downward trend in the resource sector and managed to double their stock price. Malcolm explains that through meeting an aggressive timeline of significant benchmarks since Charles Lew became the Executive Chairman in December 2013, they are focused on Western Australia and in the development of their significant magnetic materials resource in their Yangibana project.
Tracy Weslosky: Well, let’s start off with a question that most people in our audience are going to be interested in which is — how have you doubled your stock this last year?
Malcolm Mason: Well, I guess it goes back to, we promised certain things and we delivered certain things and we’ve continued to deliver for what, a year and a half now. We now have a band of loyal shareholders who believe in what we’re doing and we try to keep them tightly informed.
Tracy Weslosky: Of course, this is consistent with our analysis as I’ve been reviewing your history and, of course, since Charles Lew came on board in December 2013 a lot of changes have taken place with the overall management team and board. Can you give us a little bit of an overview on that?
Malcolm Mason: Yes, certainly my pleasure to do so because Charles arrived out of the blue. In fact he made a takeover bid and when that failed, he purchased the company. It wasn’t until February 2014 that we were able to sit around the table and find out what Charles was all about. That was a strategy meeting and it was interesting that even at that time he was very, very keen on what he called the technology metals. That is what of course we call the rare earths. When we sat around that table he said, we’re going to go for rare earths. At the end of the strategy meeting we had a number of other objectives. We were certainly going to focus on rare earths, but in Australia. He was particularly keen on Western Australia because Western Australia is probably, well, in my humble opinion, is probably the best mining area in the world and I certainly support mining. He also said that he was very keen to have a look at Yangibana and that’s where we put our first effort in. Those very direct objectives were easy to look at and easy to obtain. That was very clear and he was, what shall we say, a breath of fresh air.
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Tracy Weslosky: Speaking of a breath of fresh air what we have here for all of our audience that may not be familiar with Hastings Technology Metals — Hastings is a company that has a lot of the magnetic materials, which are the most high-priced rare earth elements. Can you give us an overview of what Hastings has and which technology metals you are focused on?
Malcolm Mason: Yes. In fact you’ve hit the point where if you don’t have a significant resource you’re not going to go anywhere. That’s obviously the prime target for us in the first year. We started at Yangibana North and there we found that the neodymium percentage of our rare earths was around about 18%…to access the rest of this interview, click here
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